Crown’s Element 82 Division Announces New Lead Detection Service Projects in the State of Florida and New York

Rhea-AI Summary

Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced new lead detection service projects in Florida and New York through its Element 82 division. The company will conduct water service line inspections to locate lead pipes as mandated by the EPA's Lead and Copper Rule Revisions. Element 82 is working as an exclusive subcontractor to Electro Scan Inc., using the SWORDFISH technology for non-invasive pipe material identification.

Work has begun in Medley, Florida, an industrial community with 1,800 businesses and 1,100 residents. Four projects have also started in New York, including the cities of Batavia, Little Falls, Oneonta, and the Village of Warwick. These efforts align with New York's Lead Pipe Right to Know Act, requiring public water systems to make service line inventory information available to the public.

Positive

• Secured new service projects in Florida and New York, potentially increasing revenue
• Using advanced SWORDFISH technology for non-invasive pipe material identification, offering a competitive advantage
• Alignment with EPA mandates and state regulations, positioning the company in a growing market

Negative

• None.

Field Work Has Commenced in Medley, Florida, With Four New York Community Water Agencies to Follow

LOS ANGELES, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) (“Crown” or the “Company”), a leading smart glass technology company and an expert in constructing fiber optic networks and lead pipe inspection and remediation, today announced that its recently formed division, Element 82 Inc., has been awarded new service projects in the states of Florida and New York.

Element 82 field crews will conduct water service line inspection to locate lead pipes as mandated by the U.S. Environmental Protection Agency’s (EPA) Lead and Copper Rule Revisions (LCRR).

All projects will be conducted as the exclusive subcontractor to Electro Scan Inc., the prime contractor for each project.

"We are delighted to support community water systems to prepare accurate inventories of their water service lines using the Electro Scan SWORDFISH technology," stated David Kinsella, President, Element 82 Inc.

The EPA requires that all 50,000+ U.S. water agencies will complete an inventory of public and private water service lines that deliver drinking water to homes and businesses, including schools, health care, and child care facilities.

Traditionally, water pipes connecting water mains to households had to be dug-up and exposed to determine its pipe material(s). In contrast, Element 82 became an early adopter of the Electro Scan SWORDFISH product which uses a machine-intelligent probe to automatically identify pipe materials using electrical resistance testing.

Work has already begun in the Town of Medley, Florida.

Medley is an industrial community in northwest Miami-Dade County that covers eight square miles. It has 1,800 businesses and 1,100 residents, but the daytime population can reach over 60,000 when visitors and workers are included.

The town also operates Lakeside Rentals, a retirement park with mobile homes that are restricted by age and income.

In Medley, Element 82 field crews will be using SWORDFISH to test from sidewalk or property line to the house. Testing does not include plumbing inside the home or business.

"We look forward to using Electro Scan's SWORDFISH and teams from Element 82 to inspect our water services without needing to excavate," stated Jorge C Soto, Utilities Director, Town of Medley, Florida.

Four projects have also begun in the State of New York, including the City of Batavia, City of Little Falls, City of Oneonta, and the Village of Warwick.

In December 2023, Governor Kathy Hochul signed Senate Bill 5512. Known as the Lead Pipe Right to Know Act, the state law requires public water systems to make service line inventory information available to the public.

Since the majority of New York water meters and openings are located in basements, Element 82 will also be providing homeowner appointment scheduling.

About Crown Electrokinetics

Crown is comprised of four divisions, Fiber Optics, Electrokinetics Film, Element 82, and PE Pipelines. Crown’s Fiber Optics division is a builder of underground fiber optic networks as well as other utility infrastructure projects.. The Electrokinetics Film division is a smart glass technology and the creator of our Smart Window Insert based on its patented electrokinetic film. Element 82 is a water pipeline inspection service provider focused on lead detection and condition assessment. PE Pipelines is a pipe repair, replacement, and lead pipe remediation specialty contractor.

Safe Harbor Statement:

Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Crown Electrokinetics Contact:
IR Email: info@crownek.com
SOURCE: Crown Electrokinetics Corp.

FAQ

What new projects has Crown Electrokinetics (CRKN) announced for its Element 82 division?

Crown Electrokinetics (CRKN) has announced new lead detection service projects in Florida and New York for its Element 82 division, conducting water service line inspections to locate lead pipes as mandated by EPA regulations.

What technology is Element 82 using for lead pipe detection in the CRKN projects?

Element 82 is using the Electro Scan SWORDFISH technology, which employs a machine-intelligent probe to automatically identify pipe materials using electrical resistance testing without the need for excavation.

Where has Crown Electrokinetics (CRKN) begun work on lead detection projects in August 2024?

Crown Electrokinetics (CRKN) has begun work in Medley, Florida, and has started projects in four New York locations: the City of Batavia, City of Little Falls, City of Oneonta, and the Village of Warwick.

How does the Lead Pipe Right to Know Act affect Crown Electrokinetics' (CRKN) projects in New York?

The Lead Pipe Right to Know Act requires public water systems in New York to make service line inventory information available to the public, aligning with Crown Electrokinetics' (CRKN) lead detection projects in the state.